VF Corporation announced that it has completed the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company.
The new company, named Kontoor Brands, Inc., will include the Wrangler, Lee and Rock & Republic brands, and the VF Outlet business. The separation was achieved through the distribution to VF’s shareholders of one share of Kontoor Brands common stock for every seven shares of VF stock held at the close of business on the record date of May 10, 2019.
Kontoor Brands common stock will begin regular-way trading today on the New York Stock Exchange under the ticker symbol “KTB.”
VF Corporation’s brands include Vans, The North Face, Timberland and Dickies.